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CGTMSE LOANS

Finance your business with ICICI Bank’s Credit Guarantee Fund Trust, for Micro and Small Enterprises (CGTMSE) Loans.

The Government of India and the Ministry of Micro, Small and Medium Enterprises have jointly launched a Guarantee scheme, to offer credit to Micro and Small Enterprises. This guarantee is provided by a trust fund called the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), which is set up by the Government of India and the Small Industries Development Bank of India (SIDBI).

CGTMSE is a Hybrid Security product, where ICICI Bank offers a combination of Secured and Unsecured Loans. The Unsecured Loan would be the portion that is not covered by the collateral security. This loan is offered to the Micro and Small Enterprises that are registered with Udyam or Udhyog Aadhar. All entities, except for the Education Institutes, Agriculture, Self Help Groups, and Training Institutes, are eligible to avail this Guarantee Backed Loan.

It allows the customer to avail a collateral-free loan, up to Rs 2 crore, for a tenure of up to 10 years.

For details, give us a missed call on 9022499400.

Prominent features of the CGTMSE Loan

ICICI Bank offers a variety of products under the CGTMSE Loans portfolio. If you are an entity eligible for the CGTMSE scheme, you can apply for any of the products mentioned below.

  • Non-Residential Premise Loan
  • Balance Transfer

Interest Rates on the CGTMSE Loan

The CGTMSE Loan interest rate offered by ICICI Bank to the borrowers is dependent on the evaluation of various factors, such as the borrower’s profile, project cost, and business needs. As compared to other direct loans, the interest rate on CGTMSE Loan is typically low.

Eligibility criteria for the CGTMSE Scheme

As per ICICI Bank, the CGTMSE Scheme eligibility, comprises of the following entities:

  • Sole Proprietorship firms
  • Partnership firms
  • Private Limited Companies
  • Public Limited Companies
  • Micro and Small Enterprises, excluding Educational Institutes, Agriculture, Self Help Groups, and Training Institutes.

The CGTMSE Loan limit is decided on the basis of the applicant’s profile and business needs.

Apart from the interest rate, a borrower is required to pay an additional CGTMSE Guarantee and Service related CGTMSE Fee, while borrowing the loan. For the collateral-free portion of the loan (unsecured loan), the Annual Guarantee Fees, as mentioned below, would be applicable:

 

Facility Amount Annual Guarantee Fee (AGF) [% p.a.]*
  Women, Micro Enterprises and Units covered in North East Region Others
Above Rs 10 lakh and up to Rs 50 lakh. 1.35% 1.50%
Above Rs 50 lakh and up to Rs 200 lakh 1.80%
Retail Trader (Above Rs 10 lakh and up to Rs 100 lakh) 2.00%
*The Annual Guarantee Fee (AGF) would be charged on the guaranteed amount for the first year, and on the outstanding amount for the remaining tenure of the credit facility.

Popular FAQs

CGTMSE is a trust fund that provides a guarantee against the Unsecured Loan, given by the financial institutions to Micro and Small Enterprises.

Micro and Small Enterprises (except for Educational Institutes, Agriculture, Self Help Groups, and Training Institutes) can avail of this loan. Sole Proprietorship firms, Partnership firms, Private Limited Companies, and Public Limited Companies can also avail of a CGTMSE Loan.

Under the CGTMSE Scheme, you can avail a:

  • Collateral Free Loan of up to Rs crore, under the CGTMSE scheme
  • A Term Loan for meeting working capital or business expansion requirements.

The loan tenure under the CGTMSE Loan is up to 10 years.

Accounts declared as fraud/wilful defaulters are not considered under the scheme.

Yes, an annual fee is applicable for all Unsecured Loans, which are backed by CGTMSE.

No, this product is only offered as a Term Loan. Overdraft facility is not allowed under this scheme.

Terms and Conditions apply.